Form 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 3, 2016

 

 

VISA INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

 

Delaware   001-33977   26-0267673

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

P.O. Box 8999

San Francisco, California

  94128-8999
(Address of Principal Executive Offices)   (Zip Code)

Registrant’s Telephone Number, Including Area Code: (650) 432-3200

N/A

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


Item 5.07 Submission of Matters to a Vote of Security Holders.

Visa Inc. (the “Company”) held its Annual Meeting of Stockholders on February 3, 2016 (the “Annual Meeting”). The Company’s class A common stockholders voted on five proposals at the Annual Meeting. The proposals are described in detail in the Company’s definitive proxy statement dated December 11, 2015.

Proposal 1: The Company’s class A common stockholders elected eleven directors to the Company’s Board of Directors, each to hold office until the next annual meeting of stockholders and until his or her successor has been duly elected or until his or her earlier resignation or removal. The votes regarding this proposal were as follows:

 

Nominee

   Votes For      %
For
     Votes Against      %
Against
     Abstentions      Broker Non-Votes  

Lloyd A. Carney

     1,468,280,674         99.5         4,085,546         0.3         3,446,548         160,572,308   

Mary B. Cranston

     1,366,548,716         92.6         105,861,881         7.2         3,402,171         160,572,308   

Francisco Javier Fernández-Carbajal

     1,460,220,172         98.9         12,121,727         0.8         3,470,869         160,572,308   

Alfred F. Kelly, Jr.

     1,470,953,016         99.7         1,422,015         0.1         3,437,737         160,572,308   

Robert W. Matschullat

     1,469,991,422         99.6         2,359,223         0.2         3,462,123         160,572,308   

Cathy E. Minehan

     1,471,178,862         99.7         1,226,868         0.1         3,407,038         160,572,308   

Suzanne Nora Johnson

     1,464,427,959         99.2         7,971,758         0.5         3,413,051         160,572,308   

David J. Pang

     1,470,944,218         99.7         1,417,961         0.1         3,450,589         160,572,308   

Charles W. Scharf

     1,470,886,830         99.7         1,475,398         0.1         3,450,540         160,572,308   

John A. C. Swainson

     1,470,853,923         99.7         1,513,416         0.1         3,445,429         160,572,308   

Maynard G. Webb, Jr.

     1,465,245,592         99.3         7,116,632         0.5         3,450,544         160,572,308   

The votes for proposals 2 through 5 are set forth below. Abstentions count as votes against the proposal.

Proposal 2: The Company’s class A common stockholders approved, on an advisory basis, the compensation paid to the Company’s named executive officers.

 

Votes For:

     1,433,839,195         97.2

Votes Against:

     33,973,249         2.8

Abstentions:

     8,000,324      

Broker Non-Votes:

     160,572,308      

Proposal 3: The Company’s class A common stockholders approved the Visa Inc. 2007 Equity Incentive Compensation Plan, as amended and restated.

 

Votes For:

     1,421,927,281         96.3

Votes Against:

     45,072,935         3.7

Abstentions:

     8,812,552      

Broker Non-Votes:

     160,572,308      


Proposal 4: The Company’s class A common stockholders approved the Visa Inc. Incentive Plan, as amended and restated.

 

Votes For:

     1,443,558,697         97.8

Votes Against:

     27,669,558         2.2

Abstentions:

     4,584,513      

Broker Non-Votes:

     160,572,308      

Proposal 5: The Company’s class A common stockholders ratified the selection of KPMG LLP as the Company’s independent registered public accounting firm for fiscal year 2016.

 

Votes For:

     1,620,495,517         99.0

Votes Against:

     10,309,688         1.0

Abstentions:

     5,579,871      

Broker Non-Votes:

     0      

 

Item 8.01 Other Events.

On February 5, 2016, the Company issued a press release announcing that its Board of Directors declared a quarterly cash dividend of $0.14 per share of class A common stock (determined in the case of class B and class C common stock on an as-converted basis) payable on March 1, 2016, to all holders of record of the Company’s class A, B and C common stock as of February 12, 2016.

A copy of the press release is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

99.1    Press Release issued by Visa Inc., dated February 5, 2016


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

    VISA INC.
Dated: February 5, 2016     By:  

/s/ Charles W. Scharf

    Name:   Charles W. Scharf
    Title:   Chief Executive Officer


EXHIBIT INDEX

 

Exhibit

Number

  

Description

99.1    Press Release issued by Visa Inc., dated February 5, 2016